EUR/USD reversed its direction after dropping below 1.1700. FOMC-inspired US Dollar Index rally lost momentum on Thursday. Wall Street’s main indexes are posting impressive gains. Following Wednesday’s sharp decline, the EUR/USD pair spent the first half of the day moving sideways below 1.1700. With the greenback coming under renewed selling pressure during the American session,
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Dollar initially dipped after FOMC overnight, but quickly found its footing. Overall market reaction was positive, but insufficient to alter the near term outlook. Sterling remains the worst performing one for the week while Swiss Franc is the strongest. Both will look into BoE and SNB policy decision today. Commodity currencies are on the softer
Dollar and yen lose a bit more ground to start the session As much as a more hawkish Fed may seem to provide a good tailwind for the dollar, it is the more positive risk sentiment that is engulfing markets right now.Invest in yourself. See our forex education hub. Equities are marching higher, carrying on
Latest data released by Markit – 23 September 2021 Prior 59.0 Manufacturing PMI 58.7 vs 60.3 expected Prior 61.4 Composite PMI 56.1 vs 58.5 expected Prior 59.0 The downside misses were already telegraphed by the German report earlier but this reaffirms a loss in growth momentum in the euro area as supply bottlenecks arguably a
NEW DELHI: Gold and silver futures dipped on Thursday, following global trends after US Federal Reserve signalled easing its monthly bond purchases by next year and a sooner-than-expected interest rate hike. In its policy statement on Wednesday, the US central bank said it could start paring bond purchases as soon as November and that half
JP Morgan CEO Jamie Dimon looks on during the inauguration of the new French headquarters of US’ JP Morgan bank on June 29, 2021 in Paris. Michel Euler | AFP | Getty Images JPMorgan Chase CEO Jamie Dimon has warned investors that the Federal Reserve could still be forced into a sharp policy move next year — despite
USD/JPY has bounced from the 109.12/07 lows. However, the pair’s upside remains capped below 110.25. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects USD/JPY to drop as low as 107.36. See – USD/JPY: Three reasons why the yen could start to recover – MUFG First support seen at the Mid-July low of 109.07
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -8.78 mmb to 1234.64 mmb in the week ended September 170. Crude oil inventory fell -3.48 mmb (consensus: -2.44 mmb) to 413.96 mmb. Stockpile fell in 4 out of 5 PADDs. PADD2 (Midwest) alone
The Royal Monetary Authority of Bhutan is partnering with Ripple to pilot a central bank digital currency in the mountainous kingdom. In a Wednesday announcement, Ripple Labs said Bhutan’s central bank would be taking advantage of the company’s private ledger to issue and manage a digital ngultrum. According to Ripple, the move was motivated by
Powell lays the framework for tapering to begin. Fed Powell’s comment that set the timeline for the taper has push the EURUSD back down (higher dollar). In the process, the pair first fell back below the 100 hour moving average at 1.17352. Buyers turned sellers in the price has now extended more deeply to the downside The EURUSD
No taper tantrum today The dots moved up Powell said it would only take a decent employment report for him to taper and that many are already ready to taper Powell roughly outlined a taper timeline Powell said long-term inflation expectations are still anchored. With the word ‘still’ indicating some new uncertainty Some of that
New Delhi: Among the precious metals, silver has been underperforming consistently for sometime now. A record-breaking bull run in equities and a stronger dollar have diminished the lustre of the white metal quite a bit. Spot prices of silver were pinned around Rs 60,000 on Wednesday, before slipping to Rs 59,714 earlier this week, highlighting
Sales of previously owned homes declined 2% in August from July to a seasonally adjusted annualized rate of 5.88 million units, according to the National Association of Realtors. Sales were 1.5% lower than August 2020 for the first annual decline. Sales however are still above pre-pandemic levels. These numbers are a count of home closings
Following the Federal Open Market Committee’s (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook. Key quotes “Fed has met the test for inflation goal to taper.” “Many on
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